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Euro Slides, Yen Lifts, Rupee Keeps Falling

Economic woes dog the euro and hound the pound - it's time for your FX Fix.

The euro zone's economic contraction deepened in May and a German business survey suggested the weakness is affecting even the stronger countries. [WSJ]

The darker economic outlookin Germany and the euro zone sent the euro to a 22-month low. [CNBC]

China's yuan hit a decade high against the euro but a low for the year against the dollar as investors sought a safe haven from Europe's turmoil. [CNBC]

First quarter U.K. GDP showed a worse than expected contraction, and the British pound slipped against the dollar. [actionforex.com]

The yen rose after the Bank of Japan said it will keep monetary policy easy to spur growth, but will not ease solely to weaken the currency. [Reuters]

Risk-averse investors sent the Indian rupee to yet another record low after a lackluster European Union summit. [WSJ]

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